Keeping members virtually safe – Should credit unions issue virtual cards?

Image Source: Article

Image Source: Article

It’s fairly well known that as chip cards and chip card readers are putting a big dent in fraud conducted at the point-of-sale (counterfeit fraud), the bad guys are shifting their efforts to committing fraud online. E-commerce fraud (52%) clearly outweighs swiped fraud (28%) on credit cards, with debit card fraud still experiencing swiped fraud, since not as many debit cards have been reissued with chips – that will change by the end of this year. Meanwhile, ecommerce breaches are popping up in the news with increasing frequency.

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